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Vanguard Long-Term Government Bond ETF

As of September 30, 2011

Investment approach
Seeks to track the performance of the Barclays Capital U.S. Long Government
Float Adjusted Index.
Diversified exposure to the long-term U.S. government bond market.
Follows a passively managed, index-sampling approach.
Provides current income with high credit quality.
Exchange-traded share class.
About the benchmark
The Barclays Capital U.S. Long Government Float Adjusted Index measures
the investment return of U.S. Treasury and agency securities, as well as
corporate and dollar denominated foreign bonds guaranteed by the U.S.
government, all with maturities greater than 10 years.
Investment focus
Central tendency
Expected range
of fund holdings
Quick facts
Barclays Capital U.S. Long
Government Float Adjusted Index
Expense ratio
30-day yield (SEC) 2.7%
Dividend schedule Monthly
ETF total net assets $45 million
Fund total net assets $103 million
Inception date November 19, 2009
Trading information
Ticker symbol VGLT
CUSIP number 92206C847
IIV (intra-day ticker) VGLT.IV
Exchange NASDAQ
As reported in the most recent prospectus. A fund's current expense ratio may be lower or higher than the figure reported in the prospectus.
Figures for periods of less than one year are cumulative returns. All other figures represent average annual returns. Fund Performance figures assume the reinvestment of
dividends and capital gains distributions; the figures are pre-tax and net of expenses. The above widely used comparative index represents unmanaged or average returns on
various financial assets that can be compared with the funds total returns for the purpose of measuring relative performance.
As of 4 p.m., Eastern time, when the regular trading session of the New York Stock Exchange typically closes.
Market price returns are calculated using the midpoint between the bid and offer prices at the time NAV is calculated, typically 4 p.m., Eastern time.
Performance history
Total returns
for period ending in September 30, 2011
VGLT (Inception 11/19/2009) Quarter
to date 1 year
Net asset value (NAV) return
24.35% 27.14% 17.12% 16.93%
Market price return
24.44 27.81 17.09 16.98
Barclays Capital U.S. Long
Government Float Adjusted
23.95 26.88 16.80 16.83
The performance data shown represent past performance, which is not a guarantee of future results.
Investment returns and principal value will fluctuate, so investors shares, when sold, may be worth
more or less than their original cost. Current performance may be lower or higher than the performance
data cited. For performance data current to the most recent month-end, visit our website at
Investors cannot invest directly in an index.
Investment Products: Not FDIC Insured No Bank Guarantee May Lose Value
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Expense ratio comparison
Vanguard Long-Term Government Bond ETF
As of September 30, 2011
ETF attributes
Bond ETF
Barclays Capital
U.S. Long
Float Adjusted
Number of bonds 57 99
Average duration 15.6 years 15.6 years
Average maturity 23.7 years 23.8 years
Short-term reserves 1.5%
Distribution by maturity
Under 1 Year 0.6%
1 - 3 Years 0.0
3 - 5 Years 0.0
5 - 10 Years 0.0
10 - 20 Years 32.6
20 to 30 Years 66.2
Over 30 Years 0.6
Distribution by credit quality
U.S. Government 99.4%
Aaa 0.1
Aa 0.5
A 0.0
Baa 0.0
Less Than Baa 0.0
Distribution by issuer
Asset-Backed 0.0%
Commercial Mortgage-Backed 0.0
Finance 0.0
Foreign 0.0
Government Mortgage-Backed 0.0
Industrial 0.0
Treasury/Agency 99.4
Utilities 0.0
Other 0.6
Represents the expense ratio for the Vanguard ETF as reported in most recent prospectus. There are material differences between mutual funds and ETFs. Unlike mutual funds,
ETFs are priced continuously and bought and sold throughout the day in the secondary market (at a premium or discount to net asset value) with the assistance of a stockbroker,
which entails paying commissions. Sources: Lipper Inc. and Vanguard, December 31, 2010.
Credit-quality ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). NR is used to classify securities for which a rating is not available. U.S.
Treasury, U.S. Agency, and U.S. Agency mortgage-backed securities appear under U.S. Government." Credit-quality ratings for each issue are obtained from Barclays Capital using
ratings derived from Moody's Investors Service, Fitch Ratings, and Standard & Poor's. When ratings from all three agencies are available, the median rating is used. When ratings
are available from two of the agencies, the lower rating is used. When one rating is available, that rating is used.
Vanguard ETF Shares are not redeemable with an Applicant Fund other than in Creation Unit aggregations. Instead, investors must buy or sell Vanguard ETF Shares in the secondary
market with the assistance of a stockbroker. In doing so, the investor may incur brokerage commissions and may pay more than net asset value when buying and receive less than
net asset value when selling.
All ETF products are subject to risk, which may result in the loss of principal. Investments in bond ETF products are subject to interest rate, credit, and inflation risk.
Vanguard Long-Term Government Bond ETF is not sponsored, endorsed, sold, or promoted by Barclays Capital. Barclays Capital makes no representation or warranty, express or
implied, to the owners of Vanguard Long-Term Government Bond ETF or any member of the public regarding the advisability of investing in securities generally or in Vanguard
Long-Term Government Bond ETF particularly or the ability of the Barclays Capital Index to track general bond market performance. Barclays Capital hereby expressly disclaims all
warranties of merchantability and fitness for a particular purpose with respect to the Barclays Capital Index and any data included therein. Barclays Capitals only relationship to
Vanguard and Vanguard Long-Term Government Bond ETF is the licensing of the Barclays Capital Index which is determined, composed, and calculated by Barclays Capital without
regard to Vanguard or the Vanguard Long-Term Government Bond ETF. Barclays Capital is not responsible for and has not participated in the determination of the timing of, prices of,
or quantities of Vanguard Long-Term Government Bond ETF to be issued.
For more information about Vanguard ETF Shares, visit, call 866-499-8473, or contact your broker to obtain a prospectus. Investment objectives, risks,
charges, expenses, and other important information are contained in the prospectus; read and consider it carefully before investing.
2011 The Vanguard Group, Inc. All rights reserved. U.S. Pat. No. 6,879,964 B2; 7,337,138; 7,720,749; 7,925,573. Vanguard Marketing Corporation, Distributor. FA3144_0911
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